COMPANY NEWS;SHARES OF LUCENT TECHNOLOGIES EXPECTED TO REACH $28

Lucent Technologies Inc., the telecommunications arm of the AT&T Corporation, is expected to go public tomorrow for as much as $28 a share -- $3 above previous estimates, the lead underwriter, Morgan Stanley Inc., said yesterday. The expected price for Lucent shares has jumped to $25 to $28 a share from $22 to $25, Morgan Stanley said. The stock will trade on the New York Stock Exchange under the symbol "LU" and is expected to be one of the biggest initial public offerings. The company, based in Morristown, N.J., was incorporated as a separate entity in September under AT&T's plan to split into three publicly held companies. Lucent plans to offer 111 million shares.